Key Things To Know Before Market Opens On Tuesday

The Indian equity benchmarks are likely to open lower on Tuesday as indicated by the Nifty Futures traded on the Singapore Exchange. The Nifty Futures of Singapore Exchange also known as SGX Nifty Futures fell 83 points or 0.52 per cent to 15,751.

Benchmark stock indices Sensex and Nifty rallied nearly 1 per cent to close at over two-week high levels on Monday, posting gains for a third straight day as global equities advanced on easing inflation concerns.

The 30-share BSE Sensex jumped 433.30 points or 0.82 per cent to settle at 53,161.28, a level not seen since June 10. During the day, the barometer rallied 781.52 points or 1.48 per cent to 53,509.50.

Here are key things to know before market opens on Tuesday:

Asia Markets

Asian shares edge down in early trade on Tuesday with investors taking their cue from a volatile Wall Street session overnight, while oil prices climbed following last week's rout.

Oil continued to rise with investors still weighing worries over an economic slowdown against concern over lost Russian supply amid sanctions related to the conflict in Ukraine.

Japan's Nikkei fell 0.19 per cent, Hong Kong's Hang Seng declined 0.84 per cent, Taiwan Weighted fell 0.95 per cent and South Korea's KOSPI fell 0.15 per cent.

US Markets

Wall Street capped a wobbly day of trading with a mixed finish Monday, giving back some of the market’s gains following a rare winning week.

The S&P 500 slipped 0.3% after shifting between small gains and losses throughout the day. The Dow Jones Industrial Average slipped 0.2% and the Nasdaq fell 0.7%. Shares in small companies rose, while more stocks rose than fell on the New York Stock Exchange.

Declines in technology and communication stocks, and in several big retailers and travel-related companies, weighed on the market. Those losses checked gains in energy stocks and elsewhere.

Crude Oil and Gold Price Check

Benchmark U.S. crude oil for August delivery rose $1.95 to $109.57 a barrel Monday. Brent crude for August delivery rose $1.97 to $115.09 a barrel.

Gold for August delivery fell $5.50 to $1,824.80 an ounce. Silver for July delivery rose 4 cents to $21.17 an ounce and September copper rose 3 cents to $3.77 a pound.

Foreign Flows

Foreign institutional investors sold shares worth Rs 1,278 crore on Friday while domestic institutional investors bought shares worth Rs 1,184 crore. 

Rupee Check

The rupee declined by 4 paise to close at its life-time low of 78.37 against US dollar on Monday due to persistent foreign fund outflows and slowdown fears.

Firm crude oil prices in the international market and weak macro data put pressure on the domestic unit. However, a weak dollar overseas supported the local currency, forex dealers said.

Stocks In Focus

Poonawalla Fincorp: Two individuals on Monday offloaded shares of Poonawalla Fincorp Ltd worth Rs 105 crore through open market transactions.

According to the block deal data available with BSE, Sanjay Chamria and Mayank Poddar sold a total of 43,79,793 shares of Poonawalla Fincorp.

Mahindra & Mahindra: Home-grown auto major Mahindra & Mahindra (M&M) on Monday launched the all-new Scorpio-N SUV in five variants, equipped with advanced modern features and latest technology, with prices starting from Rs 11.99 lakh (ex-showroom).

The bookings for the latest SUV will commence from July 30 online as well as at Mahindra dealerships, while the deliveries will begin from the upcoming festive season, the company said.

M&M said it has invested Rs 1,600 crore in the development of the new product, which includes setting up of a world-class highly automated manufacturing line at its Chakan manufacturing facility in Pune.

JSW Steel: Moody's Investors Service on Monday said it has upgraded the JSW Steel Ltd's Corporate Family Rating (CFR) to Ba1 from Ba2.

At the same time, Moody's has changed the ratings outlook on JSW Steel Ltd and Periama Holdings LLC to 'stable' from 'positive'.

"The upgrade reflects JSW's continued strong operating performance and consistently strong credit metrics while maintaining good liquidity," Kaustubh Chaubal, a Moody's senior vice president said.